Final Exam Mod. Arnaiz The Contemporary World

What is globalization?

• The process of countries becoming more isolated

• The increasing interconnectedness of economies, cultures, and societies

• The decline of international trade and commerce

• A strategy for local businesses to avoid competition

Which of the following is a key driver of globalization?

• Decreasing use of technology

• Increased trade barriers

• Advances in communication and transportation

• Government-imposed economic isolation

Which organization promotes free trade among nations?

• World Trade Organization (WTO)

• United Nations Children's Fund (UNICEF)

• North Atlantic Treaty Organization (NATO)

• World Wildlife Fund (WWF)

Which of the following is NOT a characteristic of globalization?

• Increased international trade

• Cultural exchange

• Isolationism

• Technological advancements

The process of businesses expanding beyond national borders is known as:

• Localization

• Industrialization

• Internationalization

• Nationalization

What is the role of multinational corporations (MNCs) in globalization?

• They focus solely on domestic markets

• They contribute to global trade and investment

• They operate only in a single country

• They promote economic isolation

Which economic system is most commonly associated with globalization?

• Socialism

• Communism

• Capitalism

• Feudalism

The removal of trade barriers, such as tariffs, to encourage free trade is called:

• Protectionism

• Liberalization

• Nationalization

• Isolationism

Which of the following best describes the World Bank's role in globalization?

• It provides financial aid to support development projects in different countries

• It regulates international military conflicts

• It determines global environmental policies

• It restricts the movement of capital between countries

A major political concern associated with globalization is:

• Increased national pride

• Decreased influence of international organizations

• The loss of national sovereignty

• Strengthened local industries